Polyester Staple Fiber Market - Global Industry Analysis, Size, Share, Forecast 2016 - 2024
Global
Polyester Staple Fiber Market features a low degree of fragmentation
among suppliers and a large number of potential buyers. The market also
features a very large gestation period and high cost of capital required
for establishing manufacturing units, resulting in a moderate threat of
new entrants, observes Transparency Market Research in a recent report.
Market players compete on the fronts of price, product quality, credit
terms, and technical aftersales support provided to buyers. “As the
market is in the stage of moderate capacity, the degree of completion
will remain moderate over the period 2016 to 2024”, states a TMR
analyst.
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Some
of the market’s key vendors are Alpek S.A.B. de C.V., Toray Industries,
Inc., China Petroleum & Chemical Corporation, Reliance Industries
Limited, and Far Eastern New Century Corporation.
Apparel Industry to Emerge as Most Promising End-use Segment
Transparency
Market Research states that the global polyester staple fiber market
will exhibit a healthy 7.5% CAGR over the period between 2016 and 2024.
Rising at this pace, the market, which valued at US$23,404.0 mn in 2015,
is projected to reach US$42,415.1 mn by 2024.
In
terms of applications, the apparel industry dominated the market,
holding an over 20% share in market revenues in 2015. The segment is
also expected to maintain its lead throughout the forecast period. Asia
Pacific is presently the dominant market for polyester staple fiber and
is expected to retain its lead position in the global market for
polyester staple fiber by 2024 as well. The region accounted for 41%
share in terms of revenue in 2015. China was the dominant producer of
polyester fiber in 2015, followed by India.
Rising Usage of Manmade Fibers in Cotton-dominated Textile Industry Key to Market Growth
In
the past few years, the higher strength and flexibility in design and
application, in addition to the significant reduction in cost of
end-product, allowed by manmade fibers have significantly increased
their share across many conventional applications where once cotton and
other natural fibers dominated. In 2015, the overall consumption of
manmade fiber in the textile industry stood at nearly 65%. Of the
variety of manmade fibers available in the market at present, polyester
staple fiber has emerged as the most promising segment and has found
applications across most promising industries such as textile,
automotive, furniture, and apparel.
Rise
in demand for manmade fiber and increase in automobile sales are the
major factors driving the polyester staple fiber market in several
regions. Polyester staple fiber is also expected to see increased demand
on a global front owing to its extensive use in the construction
industry to provide temperature stability and improve tensile and shear
properties of asphalt concrete. Growth in construction activities,
primarily in developing nations, is likely to boost the demand for
polyester staple fibers during the forecast period
Anti-dumping Duties on Purified Terephthalic Acid (PTA) to Hamper Market Growth
Over the past few years, many countries across the globe have imposed anti-dumping duties on
purified
terephthalic acid (PTA). Imposition of such rules has subsequently
resulted in the increased prices of PTA, which in turn is expected to
have a negative impact on the prices of polyester staple fiber in these
countries.
In
addition to this factor, the government-regulated prices of cotton
across many developing countries, making cotton a cheaper alternative to
polyester staple fiber, could also have a negative impact on the
overall development of the polyester staple fiber market in the near
future. The impact of regulated cotton prices will be most prominently
seen across developing agrarian economies.
This
review of the market is based on a recent market research report
published by Transparency Market Research, titled “Polyester Staple
Fiber Market (by Origin: Virgin Polyester Staple Fiber, Recycled
Polyester Staple Fiber, Blend of Virgin and Recycled Polyester Staple
Fiber; by End User: Apparel, Automotive, Home Furnishing, Filtration,
Construction, Personal Care & Hygiene and Others) - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
For the study, the global polyester staple fiber market is segmented as follows:
Polyester Staple Fiber Market: By Type
-Solid Fiber
-Hollow Fiber
Polyester Staple Fiber Market: By Origin
-Virgin Polyester Staple Fiber
-Recycled Polyester Staple Fiber
-Blend of Virgin and Recycled Polyester Staple Fiber
Polyester Staple Fiber Market: By End-use
-Apparel
-Automotive
-Home Furnishing
-Filtration
-Construction
-Personal Care & Hygiene
-Others (toys, wadding, etc.)
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